President Barack Obama is not considering any specific proposals to impose new rules on the financial sector, White House press secretary Josh Earnest said Thursday.

The remarks come after Obama made remarks to the NPR Marketplace radio show on Wednesday where he said that “further reforms” of Wall Street are needed, despite important policies put in place to safeguard the financial system under the 2010 Dodd-Frank law. He also argued that there remains too much focus on making profits through big banks’ trading desks as opposed to investing in companies and the “real” economy.

“Now what we’ve been able to do is to try to prevent taxpayers from being the folks who are left holding the bag. But it’s still not a real efficient way for us to run a financial system,” Obama said. “That’s going to require some further reforms. That’s going to require us looking at additional steps that we can take.”

Earnest said Thursday that the president doesn’t have a specific proposal.

“He wasn’t referring to any specific regulation or law that he had in mind, but rather the need to continue to vigilantly monitor financial markets to assess risks that may be emerging and to ensure that the necessary regulatory protections are in place,” he said at the daily press briefing.

This is something the president and his economic team discuss “every day” as they monitor risks to the financial system, he added.

Obama’s comments were significant because since the enactment of Dodd-Frank, administration officials have mostly preached patience while the law is implemented to those calling for a more aggressive crackdown on big banks.

Though Obama has indicated a willingness to use his executive authority to make changes in other policy areas, much of the oversight of Wall Street and the financial sector is in the hands of independent regulatory agencies, such as the Federal Reserve and the SEC. Earnest said they have a role to play, too, as they continue to implement reforms.

“There’s also an important role to play for those regulatory agencies, the Fed and others, that are responsible for monitoring this risk and putting in place rules that will ensure again that taxpayers aren’t left holding the bag when it comes to bailing out a big business that has placed a bunch of risky bets,” he said.